Yahoo Finance: “Analysts are split on a retest of the Christmas Eve lows, but agree stocks face headwinds”By admin_45 in IN THE NEWS
Excerpt from Yahoo Finance quoting DataTrek:
.... "Though one factor suggesting the market isn’t likely to retest its Dec. 24 lows in the coming weeks is the historical market patterns that typically follow a strong January.
Historically, when the S&P 500 rises 6.1% or higher in January (which it did this year), February and March are higher 75% of the time with an average gain of 1.3% and 1.5%, respectively, according to analysis conducted by DataTrek Research.
“The only tried and fast rule is that we have never been down for the year after a very strong January,” said Nick Colas, co-founder of DataTrek Research. “So if there is a retest then that should be bought"....
Read the full article here on Yahoo Finance!